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The AUD/USD pair has broken above recent indecisive price patterns, targeting year-to-date highs above 0.7100. This bullish momentum is driven by persistently high inflation in Australia and the Reserve Bank of Australia's (RBA) hawkish monetary policy stance. The RBA's tightening cycle continues to support the Australian dollar against the US dollar. Traders are closely monitoring RBA policy signals for further directional clues in forex markets.
